LENZ Therapeutics (NASDAQ:LENZ) Shares Up 5.8% – What’s Next?

LENZ Therapeutics, Inc. (NASDAQ:LENZ)’s stock price was up 5.8% on Thursday . The company traded as high as $31.02 and last traded at $30.94. Approximately 46,495 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 135,100 shares. The stock had previously closed at $29.24.

Wall Street Analyst Weigh In

LENZ has been the subject of several recent research reports. William Blair raised LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research note on Thursday, November 7th. Finally, Raymond James initiated coverage on LENZ Therapeutics in a research report on Friday, September 27th. They set an “outperform” rating and a $37.00 price target on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, LENZ Therapeutics presently has an average rating of “Buy” and a consensus target price of $35.40.

LENZ Therapeutics Trading Up 5.8 %

The firm’s 50-day simple moving average is $31.47 and its two-hundred day simple moving average is $24.83.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter last year, the business posted ($1.33) EPS. Equities analysts anticipate that LENZ Therapeutics, Inc. will post -2.09 EPS for the current fiscal year.

Hedge Funds Weigh In On LENZ Therapeutics

A number of hedge funds have recently bought and sold shares of LENZ. SG Americas Securities LLC bought a new stake in shares of LENZ Therapeutics in the 3rd quarter worth approximately $107,000. MetLife Investment Management LLC bought a new position in LENZ Therapeutics in the 3rd quarter worth about $182,000. GSA Capital Partners LLP bought a new stake in shares of LENZ Therapeutics during the third quarter valued at approximately $246,000. Squarepoint Ops LLC acquired a new position in shares of LENZ Therapeutics during the second quarter worth approximately $181,000. Finally, Jane Street Group LLC acquired a new stake in LENZ Therapeutics in the 3rd quarter valued at approximately $286,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.

About LENZ Therapeutics

LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California.